GSK Lowers 2024 Vaccine Sales Forecast

GSK has revised its 2024 vaccine sales forecast downward due to disappointing quarterly revenue from its shingles and RSV vaccines, resulting in a 1.4% drop in share prices. CEO Emma Walmsley cited weak U.S. demand and a decision by a U.S. public health agency to tighten age recommendations for RSV vaccinations as significant factors behind the sales forecast adjustment. Sales of the RSV vaccine Arexvy reached £62 million, falling short of the expected £70 million, while Shingrix generated £832 million, also below market expectations. Despite these setbacks, GSK exceeded overall second-quarter financial forecasts driven by strong performance in cancer, HIV, and specialty medicines, leading to an increase in its full-year sales and profit estimates. Analysts have expressed concerns that the downside from vaccines could outweigh the positive growth from other medicines. GSK remains optimistic about its long-term prospects, emphasizing a focus on infectious disease drugs and vaccines.